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FRIDAY March 9, 2007 TRADE GAP NARROWS IN JANUARY 2007 U.S. international trade in goods and services USCENSUSBUREAU Helping You Make Informed Decisions The U.S. monthly goods and services deficit narrowed in January 2007, according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit decreased from $61.5 billion (revised) in December to $59.1 billion in January, as exports increased and imports decreased. The December deficit was slightly higher than its previously published value of $61.2 billion. Balance on Goods and Services Trade [Monthly, seasonally adjusted] ($ in Billions) $0 -$10 -$20 -$30 -$40 -$50 -$60 -$70 -$80 2000 2001 2002 2003 2004 2005 2006 2007 Exports Exports of goods and services increased $1.4 billion in January to $126.7 billion, reflecting an increase in goods exports. Services exports decreased slightly. The increase in goods exports reflected increases in capital goods and consumer goods, which were partly offset by decreases in automotive vehicles, parts, and engines and other goods. The decrease in services exports reflected decreases in transfers under U.S. military sales contracts and other transportation, which were partly offset by an increase in other private services. Imports Imports of goods and services decreased $1.0 billion in January to $185.8 billion, reflecting a decrease in goods imports. Services imports increased slightly. The decrease in goods imports mostly reflected decreases in automotive vehicles, parts, and engines and consumer goods, which were partly offset by an increase in capital goods. The increase in services imports was mostly accounted for by an increase in other private services. Several other services increased a small amount. Goods by geographic area (not seasonally adjusted) The goods deficit with China increased from $19.0 billion in December to $21.3 billion in January. Exports decreased $0.8 billion to $4.4 billion, while imports increased $1.4 billion to $25.6 billion. The goods deficit with Canada increased from $5.6 billion in December to $6.9 billion in January. Exports decreased $0.5 billion to $17.7 billion, while imports increased $0.8 billion to $24.6 billion. The goods deficit with Mexico decreased from $5.0 billion in December to $4.6 billion in January. Exports increased $0.7 billion to $10.7 billion, while imports increased $0.2 billion to $15.3 billion. BEA data—including GDP, personal income, the balance of payments, foreign direct investment, the input-output accounts, and economic data for states, local areas, and industries—are available on the BEA Web site: www.bea.gov. E-mail alerts are also available. NOTE: This and more information is provided in the March 9 press release issued by the U.S. Bureau of Economic Analysis and the U.S. Census Bureau, U.S. International Trade in Goods and Services: January 2007. The next release is April 13, 2007. Contacts: Services: Ralph Stewart 202-606-2649 Goods: Vanessa Ware 301-763-2311 Bureau of Economic Analysis, U.S. Department of Commerce U.S. Census Bureau, U.S. Department of Commerce